Consensus Algorithms Introduction

What means Consensus?

• Agreement

• Disagreement

• Recording

• Exploiting

Which are the main Consensus Algorithms?

• Proof of Work

• Proof of Stake

• Proof of Laziness

• Proof of Mining

... is a type of consensus algorithm where a person can mine or validate block transactions according to how many coins he or she holds.

• Proof of Work

• Proof of Stake

... is a type of consensus algorithm where miners compete against each other to complete transactions on the network and get rewarded.

• Proof of Work

• Proof of Stake

What Consensus Algorithm is used in Bitcoin Network?

• PoW

• PoS

What Consensus Algorithm is used in Ethereum Network?

• PoW

• PoS